Oil passes $100 a barrel as US energy secretary says Iran won't be a 'long-term war'

Tech Insider : Politics, Business
Oil wells are used to drill for oil.
Oil prices look like they're edging closer to a key threshold that suggests inflation could start to rise and economic growth could get hit from the war on Iran, market pros say.

Pavel Mikheyev/Reuters

Nobel economist Paul Krugman said this surging energy price should 'terrify Republicans'

Tech Insider : Business, Economy
Paul Krugman
Paul Krugman.

Gene Medi/NurPhoto via Getty Images

Putin eyes 'more profitable' markets for Russian gas amid Middle East chaos

Tech Insider : Business, Economy
Russia's President Vladimir Putin a
Russian President Vladimir Putin is positioning Russia to benefit from tighter LNG markets.

Gavriil Grigorov/Pool/AFP/Getty Images

America's average gas price saw its largest single-day jump in 4 years

Tech Insider : Business, Economy
A Mobile gas station at night with its lights on. Three cars are filling up.
Gas prices across America rose quickly amid growing tension in the Middle East, according to AAA.

FREDERIC J. BROWN/AFP via Getty Images

Tons of goods are stuck around the Middle East amid shipping and air chaos

Tech Insider : Business, Style
A cargo ship is pictured off coast city of Fujairah, in the Strait of Hormuz.
Major shipping lines are rerouting vessels amid escalating security risks in the region.

Giuseppe Cacace AFP/Getty Images

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